Compute the specified quantity. Your total payment on a 3 year loan, which charged 10% annual simple interest, amounted to $50,560. How much did you originally borrow (in dollars)? (Round your answer to the nearest cent.) $ 37,986.48
Compute the specified quantity. Your total payment on a 3 year loan, which charged 10% annual simple interest, amounted to $50,560. How much did you originally borrow (in dollars)? (Round your answer to the nearest cent.) $ 37,986.48
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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